Monday, June 25, 2018

Financial Secrets for Military Members

During my time during active duty i've tried to take advantage of all of the financial perks of being in the military. Here are my three favorite benefits:

1.) Credit cards
2.) Investments 
  • You can contribute to BOTH the Roth IRA and the Roth TSP. Both of these allow your money to grow tax free so that you can keep all your money when you retire. 
  • Roth IRA - up to $5500 every year - I would recommend opening account with Vanguard and if you are looking to keep things simple just investing in the S&P500. 
  • Roth TSP - up to $18,500 every year
  • To manage your finances I like Personal Capital. They are similar to Mint but better. 

3.) Other Sweet Deals (3 examples)

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